XRP price has once again drawn market attention, decreasing more than 5% amid a general price decline in the cryptocurrency segment.
XRP Price and Current Market Status
XRP has lost over 5% recently, dropping below the $3 support level, which has raised investor concerns. Meanwhile, the global crypto market capitalization fell over 4%, reaching $3.87 trillion, with significant losses in altcoins like Ethereum and Solana, which lost more than 5%.
Decline Prospects and Analyst Opinions
Some analysts warn that XRP price could drop to $2 if it fails to hold above key support levels. Analyst Ali Martinez indicated that if XRP fails to maintain the $3 support level, the next support lies at $2.6. Meanwhile, EGRAG CRYPTO believes any dip to $2 would be temporary and unlikely to be maintained.
Will XRP Make a Comeback?
EGRAG CRYPTO's analysis suggests a possible recovery for XRP if it can break through the $3 resistance level. If it does, the next targets could be $3.20, $3.45, and potentially $3.65. However, it is important to consider that continuous selling pressure may lead to a dip to $2.
The characteristic movements of XRP amidst current market conditions evoke mixed feelings among traders. Monitoring price behavior in the coming days will be crucial to determining whether XRP can regain its positions.
